The system is expected to become fully operational during the early part of 2003.
The successful operation of P3's bus tracking scheme will result in all buses operating in the area controlled by the local authority being required to be supplied with equipment developed by P3.
This system has the specific objective of providing all bus users with accurate and timely information relating to the exact location and movement of buses. P3's bus tracking system is expected to encourage additional passengers, thereby reducing traffic congestion and to also provide additional security for both passengers and bus drivers.
This system will make bus information readily available for the management of bus operations and be provided to bus users, either by way of data screens on buses, bus stops and passenger areas, or through web based information systems.
P3 will be using the resources of the Transport Operations Research Group based at the UK's Newcastle University to maximize the potential benefits of the bus tracking system for end users.
P3 will be relying on its AEGIS GPS tracking system coupled with GPRS (General Packet Radio Service) mobile phone technology. GPRS mobile phone networks already cover a large part of the UK, as well as other part of the world. Commonly referred to as G2 1/2, it is an excellent medium for the transmission of data. GPRS is far more economical than other cellular phone technology for the transmission of data.
FORWARD LOOKING STATEMENT
Except for historical matter contained herein, the matters discussed in this press release are forward-looking statements and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect assumptions and invoke risks and uncertainties, which may affect the Company's business and prospects and cause actual results to materially differ from these forward-looking statements.
More information about Precise Positioning Products Inc. can be
Precise Positioning Products, New York Investor Relations: Guy Cohen, 212/753-3927